WeWork has hired a Facebook executive ahead of its stock market debut.
The firm has recruited Martin Ott, Facebook managing director for Central Europe.
Ott joins as WeWork managing director for EMEA, a newly created role for the business. He will commute between London and Berlin.
Patrick Nelson, head of real estate for Europe, will continue in his current role.
Ott said: “Over the past few years, it’s been incredible to watch The We Company change the way people work across the region, and around the world. They are driving a global revolution in the way we think about community-building through both physical and digital spaces, and I’m hugely excited to be joining such a talented team.”
The appointment comes as WeWork, which rebranded as The We Company earlier this year, increases its European presence ahead of its proposed initial public offering (IPO).
Wework now has around 500 locations in 105 cities, which will soon increase to 749 in 124 cities.
The firm is planning to boost confidence in its business by raising debt to fund its growth, according to a report today (9 July 2019) in the Wall Street Journal. WeWork is aiming to raise as much as $3bn to $4bn in the coming months through a debt facility of up to $10bn, according to the report.
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